Josh Schwadron’s original concept for his litigation financing startup Mighty was as a crowd-sourced litigation financing marketplace. The company invited investors with legal expertise to invest directly into plaintiff litigation, something Schwadron believed would ultimately help personal injury plaintiffs get better access to justice. “We thought that the best way of making the space move more quickly into mainstream was to create a marketplace and to go direct to consumer,” he said.
Mighty’s bidding-based structure was extremely popular among software investors at the time, with many hoping to replicate the success of companies such as Airbnb. Indeed, Mighty picked up a $5.25 million Series A investment back in 2015 from a few different New York-based venture capital firms.
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